EP Wealth Advisors LLC Trims Holdings in SkyWest, Inc. (NASDAQ:SKYW)

EP Wealth Advisors LLC reduced its position in SkyWest, Inc. (NASDAQ:SKYW) by 4.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 246,277 shares of the transportation company’s stock after selling 10,184 shares during the quarter. EP Wealth Advisors LLC’s holdings in SkyWest were worth $24,660,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in SkyWest by 3.2% during the third quarter. JPMorgan Chase & Co. now owns 357,510 shares of the transportation company’s stock valued at $30,396,000 after acquiring an additional 11,169 shares during the period. Barclays PLC raised its stake in SkyWest by 563.8% during the 3rd quarter. Barclays PLC now owns 152,940 shares of the transportation company’s stock valued at $13,002,000 after purchasing an additional 129,901 shares during the period. Savant Capital LLC purchased a new position in SkyWest in the 4th quarter worth approximately $242,000. Tidal Investments LLC bought a new position in SkyWest in the 3rd quarter worth approximately $648,000. Finally, Smartleaf Asset Management LLC boosted its stake in SkyWest by 193.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 863 shares of the transportation company’s stock worth $87,000 after purchasing an additional 569 shares during the period. 81.30% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on SKYW shares. The Goldman Sachs Group raised shares of SkyWest from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $119.00 to $117.00 in a report on Tuesday, April 8th. StockNews.com raised SkyWest from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Raymond James lowered their price target on SkyWest from $130.00 to $125.00 and set an “outperform” rating for the company in a research report on Wednesday, April 2nd.

SkyWest Stock Down 0.3 %

Shares of NASDAQ:SKYW opened at $94.07 on Wednesday. SkyWest, Inc. has a 1 year low of $64.61 and a 1 year high of $135.57. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.78 and a quick ratio of 0.68. The firm has a market capitalization of $3.81 billion, a PE ratio of 12.11 and a beta of 1.88. The business has a 50 day simple moving average of $88.09 and a two-hundred day simple moving average of $100.72.

SkyWest (NASDAQ:SKYW) last issued its earnings results on Thursday, April 24th. The transportation company reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.38. The business had revenue of $948.46 million for the quarter, compared to the consensus estimate of $946.13 million. SkyWest had a net margin of 9.15% and a return on equity of 14.17%. The company’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.45 EPS. On average, equities analysts predict that SkyWest, Inc. will post 9.01 EPS for the current year.

Insider Activity at SkyWest

In related news, CFO Robert J. Simmons sold 6,000 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $113.57, for a total transaction of $681,420.00. Following the completion of the sale, the chief financial officer now owns 175,067 shares of the company’s stock, valued at $19,882,359.19. This represents a 3.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Greg Wooley sold 14,545 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $105.73, for a total value of $1,537,842.85. Following the sale, the vice president now owns 68,737 shares of the company’s stock, valued at approximately $7,267,563.01. This represents a 17.46 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

SkyWest Company Profile

SkyWest, Inc is the holding company for two scheduled passenger airline operations and an aircraft leasing company. SkyWest’s airline companies provide commercial air service in cities throughout North America with nearly 3,000 daily flights carrying more than 53 million passengers annually. SkyWest Airlines operates through partnerships with United Airlines, Delta Air Lines, American Airlines and Alaska Airlines.